#BTCUSD - Bitcoin possibly dropping additional 30-40%. Realistic
Hi All, my main 3 take-outs from this analysis are the following:
1- Bitcoin is showing a bearish divergence between RSI and price on the weekly chart, which is a sign that price might continue dropping
2- The most recent uptrend started on July 21 and expired on Nov 8th 21 was not supported by volumes: meaning higher prices but lower volumes, also a possible sign of bearish continuation
3- To me it is realistic to think about Bitcoin reaching the 30K area, meaning an additional 40% drop from current prices
Not a financial advice, just personal opinion. Do your own due diligence and good luck!
1- Bitcoin is showing a bearish divergence between RSI and price on the weekly chart, which is a sign that price might continue dropping
2- The most recent uptrend started on July 21 and expired on Nov 8th 21 was not supported by volumes: meaning higher prices but lower volumes, also a possible sign of bearish continuation
3- To me it is realistic to think about Bitcoin reaching the 30K area, meaning an additional 40% drop from current prices
Not a financial advice, just personal opinion. Do your own due diligence and good luck!
